MIRA INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SHRI GEMS LTD |
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Registered Office : |
Bian Okachimachi
Bldg 305, 3-17-9 Taito Taitoku |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April, 1999 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, Wholesale of Polished Diamonds, Jewelry
Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
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Name
SHRI GEMS LTD
REGD NAME
YK Shri Gems
MAIN OFFICE
Bian Okachimachi Bldg
305, 3-17-9 Taito Taitoku Tokyo 110-0016 JAPAN
Tel: 03-3839-5991 Fax:
03-3839-59992
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICERS
SHRIKANT SHAM, PRES (Indian resident)
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 530 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 39 M
STARTED 1999 EMPLOYES 5
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Shrikant
Shah, Indian resident businessman, in order to make most of his experience in
the subject line of business, utilizing his business networks in India. This is
a trading firm specializing in import and wholesale of polished, precut diamonds and diamond jewelry, from
India exclusively. Diamonds are
partially subcontracted mfg to local jewelry processors into jewelry products.
Clients are local jewelry processors, jewelry stores, other.
FINANCIAL INFORMATION
The subject firm does not release its financial details and the
following figures have been provided from outside sources. And partially based on phone conversation
with the owner and figures are not too far apart from the real results.
The sales volume for Dec/2007 fiscal term amounted to Yen 530 million,
an 18% up from Yen 450 million in the previous term. Client’s networks expanded. The net profit was posted at Yen 11 million,
up from Yen 10 million a year ago.
For the current term ending Dec 2008 the net profit is projected at Yen
12 million, on a 4% rise in turnover, to Yen 550 million. Business continues on the upswing. Material prices hiked.
The financial situation is considered maintained FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date Registered: Apr
1999
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital:
Yen 3 million
Major shareholders (%): Shrikant Shah (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and
wholesales polished, precut diamonds, and jewelry products, all from India
(--100%).
Stones are partially subcontracted mfg to local processors into jewelry
products.
Clients
Jewelry processors, jewelry wholesalers, jewelry stores, other.
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India exclusively.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Asahi Shinkin Bank (Ueno)
Relations: Satisfa
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
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Annual
Sales |
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550 |
530 |
450 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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12 |
11 |
10 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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40 |
29 |
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Capital,
Paid-Up |
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3 |
3 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth
Rate |
3.77 |
17.77 |
12.50 |
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Current Ratio |
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.. |
.. |
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N.Worth
Ratio |
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.. |
.. |
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N.Profit/Sales |
2.18 |
2.20 |
2.22 |
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Notes: Financials are not disclosed and the above figures have been
provided from outside sources.
Forecast (or estimated) for the 31/12/2008 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)